According to CNBC, AirAsia co-founder Tony Fernandes said the airline is sustainable despite media reports suggesting otherwise and is planning for growth even as fuel prices rise and geopolitical uncertainty persists. Fernandes said the Malaysia-based budget carrier does not need a government rescue, said its $1 billion fundraising is aimed at refinancing rather than operational shortfalls, and noted that fuel expenses jumped 58% from a year earlier as average jet fuel prices reached $183 per barrel. AirAsia earlier this month said its planned fundraising includes up to $1 billion in international debt markets and 700 million ringgit ($171.5 million) in local credit facilities for debt restructuring, refinancing and balance-sheet consolidation. Fernandes also said AirAsia is using artificial intelligence to generate about 3% in fuel savings, plans new customer-facing AI features over the next three months, and expects to make an announcement on growth and strategy with Airbus within the next month.